Mortgage advances hit P1bn

According to its financial year ending 31 March, BBS profits increased to P69 million compared to P58 million made in the previous year. The Society's mortgage advances now stand at P1.031 billion, while its total assets stand at P1.5 billion.

BBS continues to deliver sterling results despite its mortgage rates being below the prime rate. The Society has kept its variable interest rates unchanged (15.25 percent) even though the central bank increased the Bank Rate twice in the space of a month recently.